Although a large number of discounted biosimilars entered the US market more than a year ago, ABBV.US (ABBV.US)'s blockbuster arthritis drug Humira (adalimumab) continues to maintain nearly 100% of the market share.
The Zhitong Finance App learned that according to a report by generic drug manufacturer Samsung Bioepis, even though a large number of discounted biosimilars entered the US market more than a year ago, ABBV.US (ABBV.US)'s major arthritis drug Humira (adalimumab) continues to maintain a market share of nearly 100%.
Samsung Bioepis said in its latest quarterly biosimilar report that as of February 2024, AbbVie retained 96% of the adalimumab market share one year after the first generic version of adalimumab was launched in the US.
AMGN.US (AMGN.US) launched Amjevita, the first biosimilar for Humira, in the US last year.
Several other companies, including Novartis Pharmaceuticals (NVS.US) spin-off Sandoz, Coherus BioSciences (CHRS.US), Fresenius, Organon & Co (OGN.US) /Samsung Bioepis, and PFE.US (PFE.US) followed suit.
Other companies, such as Viatris (VTRS.US), have yet to set a launch date for their drug. Recently, humira biosimilar from generic drug manufacturers TEVA.US (TEVA.US) and Alvotech (ALVO.US) received US approval.
Also, many companies have launched products with flexible prices, with discounts of over 80% in some cases.
However, according to Samsung Bioepis data, Humira biosimilars are slowly making progress, reaching 4% market share in February, up from 2% in the previous quarter.
The report highlights the challenges generic drug manufacturers face in catching up with well-known brands of drugs. Take Humira, for example. In 2021, the drug brought AbbVie $21 billion in sales, making it the world's best-selling drug for the 10th year in a row.
Healthcare analytics firm IQVIA's recent report suggests that the US healthcare system could save up to $6 billion if all patients treated with Humira switched to biosimilars.
However, pharmaceutical intermediaries known as drug benefit managers will lose 84% of their profits, mainly because they have adopted a rebate scheme in favor of Humira.
Craig Burton, executive director of industry lobbying group Biosimilars Council, stated: “Even if the plans covered biosimilars, they would treat biosimilars on a par with high-priced brands and remove any incentives for patients to use low-cost biosimilars.” He added: “It is critical that the US Congress enact legislation to control this misuse of drug benefit administration.”